Member Info for Agami

Yes it was a higher low, but I think BP was dragged higher by the FTSE. BP certainly follows the FTSE more than the PoO.
I say dragged because there is a seeming reluctance of Pension funds and others to have anything to do with Fossel fuels into the future. So IMO BP's price at £3 is the new £5 SP. Not saying the SP won't go higher I hope it does my average is 360,

My trading pot is in cash at the mo. Waiting for a 290 to show up next thurs or friday due to triple witching this month.
Thanks to mojo for enlightening me.

https://www.forex-central.net/options-expiration-calendar.php

Alex

Hay, Bigbadbaz, you got my vote on that opinion. It's a BP subject only place too. X

CapitolistPig. "For those who may not know Rosneft is 19.75% owned by BP".

As of 22nd of March 2021. BP own 22.3% of Rosneft. Due to Rosneft transactions in own shares in 2020.

https://www.reuters.com/world/uk/bps-interests-rosneft-grow-22-2020-2021-03-22/

Compound, "so the Whitehouse had to back track very quickly before everyone realised that he has no control over OPEC+".

Maybe the imminent release of the 9/11 / Saudi Arabia report. Will focus the effects of the Whitehouse on OPEC.

Everyone expects Saudi Arabia are complicite.

UpDown Flat, I took $1.4bn / by £1.3841 ( GBP to $ ) as £1,011,487,609m GBP in Citi Groups trading acc. For the 3rd Quarter Q3. there would be about 60 trading days. / that by £1,011,487,609 GBP. we get £16.85m per day as an average buyback over 3 months trading.

During this time period AUG to SEPT traders are on holiday and the volumes are always very low until they come back to their desks.
I figure the time children go back to school 1st week in Sept.

So looking at the Volume of shares traded over the past few days.
DATE / Shares Bought / Shares Traded
3rd Aug / 10.5m / 87m
4th Aug / 11.8m / 42m
5th Aug /10.1m / 53m
6th Aug / Not accounted for/
9th Aug / 7.1 / 33m
10th Aug / 6.8m / 25m

This shows that the buyback figures in the presentation are optimistic suggesting they missed the summer recess and not accounted for the summer low volume of trading.

BP is 46.3m shares short on the average shares needed over 3 months trading days.

This may pickup when the real traders are back at work. So expect some real wild trading when they do return from holidays.

For me, low volume means low price and my trading portion is waiting for a dip.

Alex

UpDown Flat, I took $1.4bn / by £1.3841 ( GBP to $ ) as £1,011,487,609m GBP in Citi Groups trading acc. For the 3rd Quarter Q3. there would be about 60 trading days. / that by £1,011,487,609 GBP. we get £16.85m per day as an average buyback over 3 months trading.

During this time period AUG to SEPT traders are on holiday and the volumes are always very low until they come back to their desks.
I figure the time children go back to school 1st week in Sept.

So looking at the Volume of shares traded over the past few days.
DATE
3rd Aug 10.5m

Here is a useful site that is free to register and keep a watch list of all your shares, it will email you when ever an RNS is published.

https://www.investegate.co.uk/Index.aspx?searchtype=3&words=BP.

4th Aug 1st at 7.00am, 2nd at 6.09pm
5th Aug 6.09pm

Alex

ExxonMobil, Shell, BP and Chevron are identified as among the highest emitting investor-owned companies since 1988. If fossil fuels continue to be extracted at the same rate over the next 28 years as they were between 1988 and 2017, says the report, global average temperatures would be on course to rise by 4C by the end of the century. This is likely to have catastrophic consequences including substantial species extinction and global food scarcity risks.

This is why there will be a transison within BP to solar and wind power, maybe tidal and any other method.

BP will convert to a Power company using every available source available. Thats my prediction.
BP will become British Power. and that is a fore cast.

I only wrote the bottom paraagraph, there ie someting going on here !

am still being Usurped.

Is it really worth cvommenting here.
when ones post can be usurrpted to mean something I have no intent to express. !

wow that print out was not what I said, it is a total abriviatiation.

ExxonMobil, Shell, BP and Chevron are identified as among the highest emitting investor-owned companies since 1988. If fossil fuels continue to be extracted at the same rate over the next 28 years as they were between 1988 and 2017, says the report, global average temperatures would be on course to rise by 4C by the end of the century. This is likely to have catastrophic consequences including substantial species extinction and global food scarcity risks.

This is why there will be a transison within BP to solar and wind power, maybe tidal and any other method.

BP will convert to a Power company using every available source available. Thats my prediction.
BP will become British Power. and that is a fore cast.

Ah found it in a previous post. sorry.

An-de -link is ?

Hi MarkGo, When one has $1.4 billion in their trading account, one can put the share price were ever one wants. Citigroup Global Markets Limited who are buying back BP's shares will have every trick in the book at their disposal. They seem to be buying 10 million shares a day, so this might mean 140 days to go. IMO GL.

I think the buyback of $500m or £360m was over 19 days, missing just one day when the price went to 320p. The share price stayed in a narrow channel 290p to 320p, looking at the trades at the time there was also a major buyer buying 1500 shares sometimes 20 times a day right up to 320p. I thought it was BP's purchases until I read the RNS's.

Also I am expecting the 310p limit to be applied to the buyback again.

at North Sea.

https://oilprice.com/Latest-Energy-News/World-News/Environmentalists-Take-Aim-At-UKs-North-Sea-Oil-Plan.html

One needs to watch the rig count for the USA, at the moment the higher oil price is, hinting of more rigs, and a greater level of oil fields up for sale ( up from $1bn to $2bn). I suspect OPEC watch these two regularly published figuares closely.

So my estimation of this is, that OPEC will prevent a higher oil price by opening the taps, they are testing the US oil drillers market at the moment. So yes we might see higher prices of barrels of oil but it won't be for long. The OPEC countries have the ability to destroy/bankrupt shale producers until the peak oil event in the future.
Just my opiniion.
Alex

I agree with that too. and the BuyBacks will create it's own TA channel, within the greater channel that TA is showing.
I am heartened by the apparent support at £2.82, But I see a continuation of the original main channel between 2.80 and 3.35.
IMO. Alex

I agree with you Flat, but then this is one of the most traded stocks on the FTSE, so expect the old saying, Sell on News.
x. Alex